Get the rotors turned. Remove, clean, and repack inner and outer wheel bearings, install new dust seals. Put bearing back on same rotor you took them off of. Rollers and races have matching wear pattern by now. Rotors turned is like maybe $10-$15 per side. Id mark rotors L and R, and take the bearings out put em on a paper towel on work bench marked L and R get the rotors cut. The inside will be filled w shavings stuck to the grease in the hub from getting em cut, so clean all the grease out and wipe it good and clesn before taking em to get turned, then wipe the inside of the hub out when you get em back. Repacking the bearings is cheap insurance. Dust seals are buck or 2 each. The holes are to correct an imbalance in the casting.
The black rubber bands are part of an anti rattle deal for the brake pads. I never use them, never had brake pads rattle either.
When reinstalling the rotors with freash grease on the bearings you have to seat the bearings. Typically what i do is tighten the spindle nut fairly snug with a pair of slipjoint plyers while turning the rotor in normal direction of rotation. This seats the bearings. Then i back the nut off and make it hand tight with the slipjoint plyers then cotter pin it. Rotor should turn freely and not be real tight, or have any side to side play.
